Greece Backs Second Renewable-Energy Tax Increase in Five Months

The levy, which compensates Lagie for guaranteeing fixed power prices to clean-energy producers, will rise to an average 9.30 euros ($12.35) a megawatt-hour from 7.50 euros, the watchdog said in a statement on its website . The increase is backdated to Jan. 1 and valid for six months. Greece, whose financial crisis began in 2009, has like other European countries introduced a feed-in tariff that pays renewable-power generators above-market rates for their output. The nation has fast-tracked solar projects to help revive its economy, which remained in a recession for a fifth year in 2012. Household users will now pay 9.53 euros a megawatt-hour under the tax changes, up from the 8.74-euro charge applied on Aug. 1, according to the statement. The difference between the feed-in tariffs and the prices charged to end-users, which are decided by the Energy Ministry, has resulted ...